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Stock Market & Financial Investment News

News For ZUMZ;INTC;HPQ;FTNT;PIR;MSFT;RAD;BYD;YUM;AMRS;ACAD From The Last 14 Days
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April 22, 2015
14:47 EDTINTCEarnings Watch: Texas Instruments reports amid M&A focus in semiconductor space
Texas Instruments (TXN) is expected to report first quarter earnings after the close on Wednesday, April 22, with a conference call scheduled for 5:30 pm ET. Texas Instruments is a global semiconductor manufacturer operating in four segments: Analog, Embedded Processing, Wireless and Other. EXPECTATIONS: Analysts are looking for earnings per share of 62c on revenue of $3.2B. The consensus range is 61c-64c for EPS on revenue of $3.18B-$3.21B, according to First Call. On its last earning call, Texas Instruments said it expected Q1 EPS of 57c-67c and revenue of $3.07B-$3.33B. LAST QUARTER: On January 26, Texas Instruments reported adjusted fourth quarter EPS of 69c, which matched consensus expectations at that time. Its Q4 revenue of $3.27B came in just above the consensus forecast of $3.26B. Texas Instruments said its inventory ended the quarter at 117 days and noted on its associated conference call that it believe inventories were at "healthy levels." Texas Instruments also said then that it expected its embedded operating margins to increase. STREET RESEARCH: The day after TI's last quarterly report, Ascendiant raised its price target for Texas Instruments shares to $64 from $56 and reiterated a Buy rating on the stock. The firm attributed the post-earnings slide the stock experienced then to profit taking, rather than a fundamental disappointment. That same week, Argus increased its price target on Texas Instruments to $62 from $54 and said it expected the company's operating trends to continue to strengthen. Argus kept a Buy rating on the shares. Acquiring companies in the semiconductor space "can materially outperform the market," Jefferies analyst Mark Lipacis wrote in a note to investors on March 9. At that time, Lipacis identified Texas Instruments, NXP Semiconductors (NXPI), Avago (AVGO), Marvell (MRVL), Maxim Integrated (MXIM), Broadcom (BRCM), Altera (ALTR), and Xilinx (XLNX) as companies that were well-positioned to make acquisitions in the future. WHAT'S NOTABLE: On March 1, NXP Semiconductors and Freescale Semiconductor (FSL) announced that they have entered into a definitive agreement under which NXP will merge with Freescale in a transaction valuing the combined enterprise at just over $40B. Recent media reports suggested that Intel's (INTC) talks to acquire Altera stalled when the latter wanted more than Intel was willing to pay. PRICE ACTION: Since the day after last quarter's report, Texas Instruments' stock has rallied nearly 7%. In afternoon trading, Texas Instruments gained over 1% to $58.76.
13:39 EDTHPQAnalyst warns competition growing in 3D printing space
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12:31 EDTINTCOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after having been on a bit of a see-saw during morning trading. The averages opened in positive territory, soon turned negative, then back into positive ground following the release of a better than expected existing home sales report. The housing data was followed by a lift in the averages, which remained in positive ground near noon. ECONOMIC EVENTS: In the U.S., existing home sales rose 6.1% to a 5.19M rate in March, which was better than the expected 3.1% increase to a rate of 5.03M. Crude oil inventories built up by 5.32M barrels last week, which was more than the consensus forecast for a 3.2M barrel build. In Asia, Japan's Nikkei 225 average closed above 20,000 for the first time since April 2000. In Europe, Germany raised its economic growth forecast for 2015 to 1.8%, which was up from the 1.5% growth it said it expected in January. COMPANY NEWS: Shares of McDonald's (MCD) advanced 2% after the company reported headline earnings that missed expectations but also said it is developing a turnaround plan to improve its performance and deliver "enduring profitable growth" that it plans to share in the first week of May. Also rising after its quarterly report was another globally recognized brand, Coca-Cola (KO), whose shares gained 1% after its comparable earnings per share topped the consensus estimate. A third member of the Dow, Boeing (BA), slid over 2.5% after its earnings beat expectations but its revenue fell short of the consensus forecast... Visa (V) rose 5% and MasterCard (MA) advanced over 4% after China's State Council announced overnight that the country will regulate the market access for bankcard transaction clearing institutions, which analysts think might allow both companies to compete for the processing of domestic transactions in the country. MAJOR MOVERS: Among the notable gainers was Angie's List (ANGI), which jumped 12% after the company reported it was profitable in the first quarter and announced an exclusive relationship that will see carpet manufacturer Shaw Industries give the company's members exclusive product offers. Also higher was ASML (ASML), which gained 11% after announcing that it has signed an agreement with one of its "major U.S. customers" to deliver a minimum of 15 ASML EUV, or Extreme Ultraviolet, lithography systems. Afterward, Summit Research said it thinks the most likely buyer is Intel (INTC), which the firm believes does not want to be left behind if TSMC (TSM) puts EUV to use in 10nm processing. Among the noteworthy losers was Natural Resource Partners (NRP), which dropped 19% after the company slashed its quarterly distribution by 75% to 9c per unit. Also lower following their earnings reports were ADTRAN (ADTN), which fell over 9%, Cree (CREE), which slid 9%, and Chipotle Mexican Grill (CMG), which declined 6%. INDEXES: Near midday, the Dow was up 28.69, or 0.16%, to 17,978.28, the Nasdaq was up 6.66, or 0.13%, to 5,020.77, and the S&P 500 was up 5.24, or 0.25%, to 2,102.53.
11:08 EDTHPQOptions with increasing implied volatility
Options with increasing implied volatility: CZR FMSA PSEC CSX AEO CRM BBY SPLS HPQ DTV
10:53 EDTFTNTOptions with decreasing implied volatility
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10:11 EDTINTCHouse Committee on Small Business to hold a hearing
The Committee holds a hearing entitled, "Small Business: Big Threat: Protecting Small Businesses From Cyber Attacks" with Chief Technology Officer Grobman of Intel on April 22 at 11 am.
10:01 EDTMSFTEY and Microsoft form strategic business relationship
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09:53 EDTYUMYum! Brands sees strong comp sales in China in Q2 vs. Q1
Sees investing $185M in KFC U.S. over the next three years, will invest about $100M this year. Sees Taco Bell commodity costs unchanged in 2015. Sees deflation in Taco Bell cheese prices in 2015.
09:37 EDTINTCAltera quarterly results 'may not be great,' CNBC's Faber reports
There is talk that Altera's (ALTR) earnings report "may not be great" when the chip company reports Q1 results on Thursday, April 23, CNBC's David Faber reports. Investors assume Altera will report a strong quarter after turning down Intel's takeover attempt, but that may not be the case, according to Faber. Shares of the chip maker are down 35c to $42.89 in early trading. Piper Jaffray this morning downgraded the stock to Neutral.
09:36 EDTYUMYum! Brands says Q2 EPS may show steeper decline vs. prior year
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09:35 EDTYUMYum! Brands says Q2 EPS could lag prior year by about 20%
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09:32 EDTINTCASML large EUV tool order likely from Intel, says Summit Research
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09:22 EDTYUMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: CalAmp (CAMP), up 12.7%... Angie's List (ANGI), up 17.4%... Broadcom (BRCM), up 6.3%... Owens Corning (OC), up 3.8%... Yum! Brands (YUM), up 3.3%... Dolby Laboratories (DLB), up 3.6%... Infinera (INFN), up 2.4%... AutoNation (AN), up 2.5%... Amgen (AMGN), up 3.1%... Coca-Cola (KO), up 2%. ALSO HIGHER: Procera Networks (PKT) up 10.4% after being acquired by Francisco Partners in deal valued at $240M... Organovo (ONVO), up 19.2% after entering into a collaboration agreement with Merck Sharp and Dohme... Vical (VICL), up 5.8% after being awarded $4M contract to manufacture HIV vaccines for clinical evaluation... CTI BioPharma (CTIC), up 4.9% after announcing that Phase 3 pacritinib data will be highlighted in a late-breaking oral presentation at ASCO meeting. DOWN AFTER EARNINGS: Chipotle Mexican Grill (CMG), down 5.2%... iRobot (IRBT), down 3.6%... Cree (CREE), down 3.5%... United Rentals (URI), down 4%... Super Micro Computer (SMC), down 2.3%... Thermo Fisher (TMO), down 2.6%. ALSO LOWER: Natural Resource Partners (NRP), down 14% after reducing quarterly distribution 75% to 9c per unit... Trinity Industries (TRN), down 3.5% following a Bloomberg report that the Justice Department has initiated a criminal investigation into Trinity guardrails.
08:16 EDTMSFTSeveral companies to benefit from hybrid cloud growth, says Pacific Crest
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08:00 EDTRADRite Aid weakness a buying opportunity, says Cowen
Cowen said to add to Rite aid positions on the recent pullback as the reason for the weakness is the receding of a takeout premium, which was not in the firm's investment thesis to begin with. The firm sees strong underlying fundamentals and strong returns from its store remodeling program, which is still in its early innings. Cowen reiterated its Outperform rating and $12 price target on Rite Aid shares.
07:42 EDTYUMYum! China margins very impressive, thesis gaining steam, says Oppenheimer
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07:33 EDTYUMYum! Brands price target raised to $110 from $100 at Stifel
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07:12 EDTFTNTStephens to hold company meetings at conference
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06:28 EDTYUMYum! Brands says China business recovering, Reuters reports
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05:43 EDTINTCAltera downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Ruben Roy downgraded Altera (ALTR) to Neutral from Overweight saying takeover speculation has driven the valuation above a fundamentals based fair value. He believes an acquisition by Intel (INTC) makes sense, but at a reasonable valuation. The analyst thinks a higher premium than $54 per share is unlikely. Piper keeps a $42 price target for shares of Altera. Roy still views the longer-term prospects for the programmable logic device companies favorably and thinks Altera is better positioned near-term versus Xilinx (XLNX). Shares of Altera closed yesterday up 8c to $43.24.
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